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Baidu's Profit Rises 77%

Baidu Inc. reported a 77% rise in fourth-quarter earnings as the Chinese search-engine company continued to draw more customers and earn more revenue on average from each of them.

Baidu, which derives most of its revenue from search advertising, has gained in the local search market after Google Inc. moved its mainland China search engine to Hong Kong in 2010 amid concerns about censorship and hacking. Baidu also has been branching...